Analyst Initiates Coverage On 'Undervalued' Summit Therapeutics

On Friday, Cantor Fitzgerald initiated coverage on Summit Therapeutics Inc. (NASDAQ:SMMT), citing shares as 67% undervalued.

The company’s lead candidate ivonescimab (SMT112) is an investigational, potentially first-in-class bispecific antibody combining the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects associated with blocking VEGF into a single molecule.

Akeso Inc. engineered Ivonescimab, which is currently in multiple Phase 3 clinical trials. Over 2,300 patients have been treated with ivonescimab in clinical studies globally.

Also Read: Summit Therapeutics ‘Unique Investment In Oncology,’ Lead Drug Candidate Shows Promise Over Keytruda And Opdivo

Analyst Eric Schmidt writes, “Simply put, should ivonescimab continue to deliver superior efficacy relative to a PD-(L)1 class ($50 billion and growing in ...